Transcript

00:00:00

>> There's been enough talk about it happening, but how do you actually Brexit? Like pretty much everything else in this referendum campaign, there's some dispute, after all it would be unprecedented for the EU. But David Cameron has promised after a leave vote he would immediately trigger Article 50 of the Lisbon Treaty.

00:00:19

Well that means, that a two year timetable will be set in motion to agree to the terms of the departure. As for the decision making well, initially not much of it is likely to be made here. I'm Reuters reporter Jake Greaves in Westminster, where the UK might find itself on the outside looking in on some lengthy negotiations.

00:00:37

The other 27 EU members would have to agree what offer to make the UK and here's where it gets tricky. That would lead qualified majority approval. In other words, at least 20 of the remaining members. It's not mistake the balance of power appears to be weighted with the rest of the EU exactly to try and avoid this type of eventuality.

00:00:59

To extend negotiations past two years, agreement from all member states would be needed. And on issues such as a trade deal, remain campaigners have warned the EU wouldn't be in a generous mood. Hoping to silence Eurosceptics in other countries. The Leave campaign is argued article 50 might not even need to be invoked, and that the EU benefits from UK trade and would want to continue to do so.

00:01:24

But both sides agree this would be a long and drawn out process. During which, the UK would actually remain in the EU.